Ciecle announced its Q2 results on Tuesday, August 12 claiming that USDC circulation clocked a growth of 90 percent between April and June. Having completed a $1.2 billion IPO this year, Circle noted that the USDC circulation hit the mark of 61.3 billion around May end. In a bid to grow its overall stablecoin infrastructure, Circle disclosed that it is planning to debut a Layer-1 blockchain called “Arc” this year.
All about Arc
Its Arc blockchain will be focused on improving the overall blockchain infrastructure for stablecoins.
Elaborating on its blockchain plans, Circle said, “Arc is designed to provide an enterprise-grade foundation for stablecoin payments, FX, and capital markets applications.”
Arc will be compatible with Ethereum Virtual Machines (EVM) — that will essentially allow it to serve as a decentralized computer to support smart contracts, and dApps on Ethereum, touted as the most commercialized blockchain in existence.
“Arc will be fully integrated across Circle’s platform and services, which will also remain fully available and interoperable with the dozens of other partner blockchains that Circle supports,” the USDC-issuer noted.
Circle expects to launch a public testnet for Arc later this year. Specific details on the timeline has not been disclosed as yet.
Other highlights from Circle’s Q2 results
Circle logged losses of $482 million in the Q2 of 2025. This represents a significant increase of 93 percent from its $33 million in losses recorded in the fourth quarter of 2024. The company said its loss value saw a direct impact from the expenses it bore during its IPO with non-cash charges amounting $591 million.
Its total revenue and reserve income grew 53 percent year-over-year to $658 million, Circle reported.
Jeremy Allaire, the co-founder, CEO, and Chairman at Circle lauded the company’s first quarterly results after going public.
“We demonstrated sustained growth and adoption of our platform across a multitude of use cases and with a diverse set of industry-defining partners,” Allaire said.